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The following lots of Commodity P were available for sale during the year. The firm uses the periodic inventory system, and there are 20 units

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The following lots of Commodity P were available for sale during the year. The firm uses the periodic inventory system, and there are 20 units of the commodity on hand at the end of the year. What is the year-end inventory balance of Commodity P using the LIFO method? a. $1,250 b. $1,510 c. $1,375 d. $1,380

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